NYC Real Estate Market 'Most Challenged'
“When we look at New York City, we look at a price-income ratio that historically has been four times income, versus three times nationwide… If you want simply to get back to the median, it would be a 46% correction…If I had to pick one market in the country with the most challenge and the…
“When we look at New York City, we look at a price-income ratio that historically has been four times income, versus three times nationwide… If you want simply to get back to the median, it would be a 46% correction…If I had to pick one market in the country with the most challenge and the most substantive rate of decline [ahead], it’s New York City. It has the greatest number of job losses among the higher earners.” — Ivy Zelman, a former Credit Suisse analyst, in Barron’s via Curbed.
With lots of money to spare, cornerbodega. Very, very happy. Something you obviously cannot understand. read Warren Buffett on long term investing and the subject of not having lost anything in a down market if you haven’t actually sold.
Yes, lechacal, you’re partially right. But everytime he responds he looks like an even biggger idiot. Besides, its fun poking at him at his own expense. I really find it hard to believe that some people are so stupid though.
dibs, congrats on being in nyc for 15 yrs and ending up in Bed Stuy for a $mil bucks. Brilliant, just brilliant!
OK – and, freeze. Now DIBS, the rest of us read cornerbodega’s post and just write it off as not really worth paying attention to. He clearly isn’t credible and doesn’t add anything to the debate. Now if you get your Irish up and get in a cyber-fistfight with this guy, it will simultaneously raise his credibility and lower yours. Don’t know why I’m so concerned with your decorum, but there it is.
bummer about that stock market, huh?
“done a BHO and crammed my family into a too small space while waiting the crash”
Husband, wife and infant in a floor-through. We’re fine.
***Bid half off peak comps***
Dibs, thats great that Babs has a place near you. I already knew you’re a prototypical sucker. $920K x a conservative 40% ny drop = – $368. Add the pretty much consensus that bk will be hit harder and even harder in the fringe areas. Safe to say you’re gonna have a nice fat $500K trim. With current reports you’re even at more risk. Barrons says 50% for nyc. Ghetto would be wacked 70%. Have fun in your head on that sweet “deal”…
When all else fails, roll out the conspiracy theory. Good job, BHO, commendable.
” I’m in good company since B. Corcoran bougth down the street for over $1.1 MM.”
ROTFLMMFAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Dave now I feel sorry for you. AIG just lost 60 Billion dollars and you don’t think you can lose money…
Dave is a Mother F******ing Retard!!!
Cornerbodega please leave the retards alone…..
The What
Someday this war is gonna end…